In July 2019 the IRS identified post offshore voluntary disclosure program (OVDP) compliance as a campaign. The purpose of the campaign is to pursue those OVDP participants who fail to remain compliant with their foreign income and asset reporting requirements. The campaign said that the IRS would address this tax noncompliance through soft letters and examinations. OVDP participants have recently received such soft letters. The letters warn that the OVDP process requires continued compliance with…

Greenberg Traurig’s team in Israel was recently recognized as “Prominent Leader” by BDiCode, one of the leading legal league tables in the country. The team was ranked under both the international and local Commercial practice areas, thus enhancing the office’s unique position in the Israeli and global business ecosystems. Greenberg Traurig is honored to have been recognized by the Israeli edition of BDiCode for the fifth consecutive year. We continue to be the only international…

Global law firm Greenberg Traurig, LLP’s Trade Secrets Practice was recognized in The Legal 500 U.S. 2020 Guide under the category, “Intellectual property – Trade secrets (litigation and non-contentious matters).” The recognitions are based on feedback from 300,000 clients worldwide, law firm submissions, and interviews with private practice lawyers, in addition to Legal 500’s independent research in the legal market. Greenberg Traurig’s Trade Secrets Practice has been consistently ranked since 2012 among the top trade secrets practices…

One year since its establishment, the Labor & Employment Practice of Greenberg Traurig’s Tel Aviv office was named one of the prominent practices in the field in Israel. Leading Israeli league table BDiCode recently ranked the practice, led by Tel Aviv Shareholder Meira Ferziger, alongside other prominent Labor & Employment practices of fellow Israeli law firms. Greenberg Traurig continues to be the only international law firm represented on BDiCode’s rankings of Israeli law firms.…

Startup Genome, a technology research firm [,] has been ranking startup ecosystems for nearly a decade. A recent survey published as part of their “Global Startup Ecosystem Report GSER 2020”, ranks 150 cities across the globe that are considered leaders in the global startup ecosystem. The ranking factored in performance (revenue and exits), access to funding, global reach, ability to recruit top talent, connections between startups, and knowledge (patents and publications). Tel Aviv…

The Court of Justice of the European Union (CJEU)’s historic decision in Schrems II, in which the EU-U.S. Privacy Shield was invalidated, requires businesses to rethink the mechanism they can rely on to transfer personal data from the EU to the United States and other countries. However, how the decision will be enforced remains uncertain. Despite the invalidation of Privacy Shield, the U.S. Department of Commerce issued a statement that it “will continue to administer the…

The Court of Justice of the European Union (CJEU) declares invalid a decision of the European Commission which attested that the EU-U.S. Privacy Shield provided adequate protection to personal data transferred from the EU to the U.S., if the receiving party had self-certified its adherence to the Privacy Shield Principles. At the same time, the CJEU clarifies that the so-called standard contractual clauses (SCC) may still be used – with important caveats. Overlaying this ruling…